Thinking of starting my own LLC for a few reasons.
This year I've been busy, very busy fixing rangers tractors, more rangers ect. Usually I get a few odd jobs, but it seems that more and more people know that I can keep rangers running, and with the rancher population here, ranger repair is in high demand. Especially with the nearest dealer is at least 50 miles away and usually 3 weeks out from getting a machine in.
That being said, I'm not thinking of putting my sign out, but I'm thinking with all the business I'm doing, I'm going to get 1090'd anyway, so I might start an LLC to protect my other assets against any law suits that could (though not likely) happen through any work I've done. Another plus might be that it seems through talking with some tire outlets that I can get tire's wholesaled to me if I have a storefront and business name, which I would have if I formed and LLC. It would mean I'd have to get a tire machine, but I kinda need one anyway..
Besides the extra tax paperwork, how else will forming this business effect me?
I have one for my construction business, it's great. Consider it a way of creating a shield between business and personal. If something happens and a person sue you they are only capable of going after yadayada .inc . Not you, a paid employee.
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